K bank E-mail with Tax Forms attached ?

[kingstonkid]

5 minutes ago, chang50 said:

Just been at  kbank for help with FACTA paperwork it was too easy.All they wanted was my name nationality passport number place of birth.They only want a Thai TIN number if you work in Thailand.Said tick no for all the US questions and ignore the tax resident in another country bit.Sign and date and the jobs a good 'un.Took 2 minutes.

cool thanks

 

[Sandboxer]

If our "home branch" is too far away, can we go to ANY branch?

[Nid_Noi]

29 minutes ago, thailandsgreat said:

I got three forms via email from Kasikorn and they ask for reply via email. I can't fill and sign via email. I am European and it looks like I maybe can fill out only the "FATCA" form. I guess I will best print it out, fill out and return it at a K office? Or maybe take a picture of it and email it back?

All over the western world (based on my experience) all these documents issued by banks, department of finances, brokerage firms, etc…are sent by mail, usually with a return envelope but never by email. Some banks or other tax departments have an internal encrypted messaging module you can use after logging into your account. I still have one bank which prefers faxing confidential documents through landline’s connection with a proof of « received » transmission.

I don’t know about Thai post but the couple of times I used Thai post my letters never arrived to their destinations. SoI’ll drop the forms at my K branch and get a receipt dated and signed.

[ricklev]

Can someone post the email address K Bank is using when they send the email.  I might have missed it in junk mail and deleted it. Thanks. 

 

[quake]

12 minutes ago, chang50 said:

Just been at  kbank for help with FACTA paperwork it was too easy.All they wanted was my name nationality passport number place of birth.They only want a Thai TIN number if you work in Thailand.Said tick no for all the US questions and ignore the tax resident in another country bit.Sign and date and the jobs a good 'un.Took 2 minutes.

 

Good job, going in. 

[kimothai]

On 11/23/2024 at 9:01 PM, KhunBENQ said:

Not the slightest indication of a scam.

And the attached forms are no joke believe me!

 

Title of the forms:

1.1 FATCA-CRS FORM_INDIVIDUAL.pdf
1.2 Form W-9.pdf
1.3 Form W-8BEN.pdf

 

It will be interesting to learn whether all Kbank customer get this or only "very old" customers. Account opened in 2009. Can't remember whether I had to sign the usual "non US" confirmation" which was part of account opening at Bangkok Bank and SCB.

I also received the letter about a month ago.  I think it may be for the older customers (American).  I opened my account in 2006 and none of these for forms were used.  I simply needed passport and hotel address.  A friend (American) opened a Kasikorn Account in September of 2023 and had to fill out these forms.  Some other banks also require the forms as I had a personal experience with Krungsri Bank about 2018 when trying to open an account.  I also received a letter asking for compliance by a date that was 2 months prior to receiving the forms which made me think WTF so I binned the whole mess.

[turgid]

8 minutes ago, chang50 said:

Just been at  kbank for help with FACTA paperwork it was too easy.All they wanted was my name nationality passport number place of birth.They only want a Thai TIN number if you work in Thailand.Said tick no for all the US questions and ignore the tax resident in another country bit.Sign and date and the jobs a good 'un.Took 2 minutes.

 Well done but I suspect that like all things Tax and Visa related this will vary by office but eventually everyone will catch up.

The Kbank call centre position (and pretty much the whole point behind CRS)  is you must be  Tax resident and if eligible pay tax somewhere.

The way it works in the UK is every Bank in October submits a CRS report of money in money out and balance which is tagged with a account number, ID code,   tax residence  and tax ID number. 

If the Tax residence and ID is blank or invalid they will eventually debank you along with tagged for a Tax audit..

If it's not blank its shared with every tax residence  who signs up for CRS.

[Jingthing]

What are the consequences if you never fill the forms and they never ask? 

[maechanman]

I've had accounts with Kasikorn going back to 1990 when it was Thai Farmers Bank and to date I haven't received any e mails about this, I'm not a US citizen.

I reclaimed some tax back around 25 years ago from the interest I paid and had to get a tax number.

This is 10 digits, can anyone confirm that this would be the TIN number ?

[bamnutsak]

29 minutes ago, chang50 said:

Just been at  kbank for help with FACTA paperwork it was too easy.All they wanted was my name nationality passport number place of birth.They only want a Thai TIN number if you work in Thailand.Said tick no for all the US questions and ignore the tax resident in another country bit.Sign and date and the jobs a good 'un.Took 2 minutes.

 

What reason, for not having a TIN, did they find acceptable for Part 2, Section 2?

 

I am thinking about using one of the offered reasons, "Types of income exempted to taxation" and maybe (U.S. Social Security) in parens.

 

Agree the FATCA form is straight-forward as is the W-9.

 

 

[Red Phoenix]

26 minutes ago, chang50 said:

Just been at  kbank for help with FACTA paperwork it was too easy.All they wanted was my name nationality passport number place of birth.They only want a Thai TIN number if you work in Thailand.Said tick no for all the US questions and ignore the tax resident in another country bit.Sign and date and the jobs a good 'un.Took 2 minutes.

 

Thanks for your 'on the ground'  experience sharing.  From what you wrote, for +90% of foreign bank-customers that received that confusing and alarming e-mail, it is is just a Big Nothing-Burger. 

Why Kasikorn bothers and scares its foreign customers when they only want your 'name/nationality/passport number/place of birth' and only need your TIN number when you work here, is beyond comprehension.

They could have prepared the papers to be signed, and simply asked their foreign customers to hop in before 20 December. 

Or would this once again be a case of each Bank -branche having different requirements?

[10000Baht]

54 minutes ago, UWEB said:

On FAB 103 a guy reported this morning he has got the mail last night from "Kasikorn" but he doesn't even has an Account with the Bank.

Maybe this is the scam!

[newbee2022]

2 hours ago, JohnnyBD said:

Not every customer. I didn't get this email, most probably because I am a US citizen and have already filled out these forms when I opened my accts. After reading most of the posts, it appears the emails are being sent mostly to non-US citizens.

Calm down. No privilege for Americans. You'll get the email. Fact

[JohnnyBD]

11 minutes ago, newbee2022 said:

2 hours ago, JohnnyBD said:

Not every customer. I didn't get this email, most probably because I am a US citizen and have already filled out these forms when I opened my accts. After reading most of the posts, it appears the emails are being sent mostly to non-US citizens.

Calm down. No privilege for Americans. You'll get the email. Fact

I will certainly let you know if I ever get the email. Fact...

[Ohyesuare]

40 minutes ago, maechanman said:

This is 10 digits, can anyone confirm that this would be the TIN number ?

 

Yes.

[Gobbler]

On 11/23/2024 at 8:41 PM, offset said:

As anybody had an E-mail from Kbank asking to fill out 3 forms and return to them

 

Or is this a scam

It is legit from the bank, but it is also a scam. Will you bite on the bait?

 

[chang50]

55 minutes ago, bamnutsak said:

 

What reason, for not having a TIN, did they find acceptable for Part 2, Section 2?

 

I am thinking about using one of the offered reasons, "Types of income exempted to taxation" and maybe (U.S. Social Security) in parens.

 

Agree the FATCA form is straight-forward as is the W-9.

 

 

She told me to ignore the whole section..

[JimGant]

5 hours ago, Red Phoenix said:

5 hours ago, topt said:

Why don't you just give them your Belgian tax no. since you pay tax there anyway? Any Thai bank is not going to know how long you spend in Thailand and or whether you need a Thai TIN

The forms to be filled in require providing both my Belgian tax number and a Thai Internal Revenue TIN-number.  

Actually, if you can't provide a Thai TIN, you can explain this in the comment section of page 2. And, since -- as they point out in red at the very top of the form -- that you only need a Thai TIN, if you have taxable income (and, by extension, must pay Thai taxes, and thus file a return) -- then, if this is the case for you, i.e., you had no taxable income, 'cause your deductions and exemptions exceeded your assessable income -- no requirement to get a Thai TIN.

 

Anyway, don't waste your time getting a TIN, if no taxable income, and thus no requirement to get one. Explain this in the comment section. And, no harm, no foul.

[mrbojangles]

1 hour ago, chang50 said:

Just been at  kbank for help with FACTA paperwork it was too easy.All they wanted was my name nationality passport number place of birth.They only want a Thai TIN number if you work in Thailand.Said tick no for all the US questions and ignore the tax resident in another country bit.Sign and date and the jobs a good 'un.Took 2 minutes.

 

 

I've just been into the bank and although they were very helpful it took about 30 minutes. Could be look of the draw. They also wanted my UK tax number

[hotandsticky]

2 minutes ago, mrbojangles said:

 

 

I've just been into the bank and although they were very helpful it took about 30 minutes. Could be look of the draw. They also wanted my UK tax number

 

 

Where are you based?

[Chivas]

I think people need to be very careful over "ignoring" these communications in whatever format they arrive or a  "wait and see" attitude

 

We all know T.I.T

 

Ignore Kasikorn (and obviously all the others that will swiftly follow) and you may just find that when you go to use your Thai ATM card one day that it suddenly doesnt work with instructions to "contact the bank"

 

You're then in a world of issues with blocked access to your own monies until everything has been rectified to the banks satisfaction

 

I can see the headlines now.....

[LarryLEB]

4 hours ago, Presnock said:

Best to deal directly with bank as banking and id info should not be sent via email unless encrypted. good luck

as I noted elsewhere expattaxesthailand.com will do a free webinar on filling out the documents 29 Nov at 1 PM.  Free consultation for 15 minutes can be made.  register at the website for webinar

I tried to register at this site, and on-screen message was:  not found.  Also, the site was shown as not secure...

[newbee2022]

48 minutes ago, JohnnyBD said:

I will certainly let you know if I ever get the email. Fact...

Yes, do it. Thank you.

[crazykopite]

Yes mine came today 

[Freddy42OZ]

1 hour ago, ricklev said:

Can someone post the email address K Bank is using when they send the email.  I might have missed it in junk mail and deleted it. Thanks. 

 

 

[email protected]

[thesetat2013]

On 11/23/2024 at 8:41 PM, offset said:

As anybody had an E-mail from Kbank asking to fill out 3 forms and return to them

 

Or is this a scam

i have not gotten anything like this... being an American may not be the reason. My account with K-Bank is very old... 

Does the email threaten to do anything with the account like closing it or freezing it if you do not fill their forms? 

 

[Presnock]

31 minutes ago, LarryLEB said:

I tried to register at this site, and on-screen message was:  not found.  Also, the site was shown as not secure...

Well, I got an email from that site, and it had a block with the word "register" in it so I clicked on that.  DId you send an email to that web site so that they know they are talking with you?  I don't know what to say but if I get any other info I will pass it on.

[Presnock]

1 hour ago, LarryLEB said:

I tried to register at this site, and on-screen message was:  not found.  Also, the site was shown as not secure...

LarryLEB: try  "carl(at)expataxthailand.com" as that may be better.

 

[thesetat2013]

26 minutes ago, Presnock said:

Well, I got an email from that site, and it had a block with the word "register" in it so I clicked on that.  DId you send an email to I that web site so that they know they are talking with you?  I don't know what to say but if I get any other info I will pass it on.

i would never send them an email in reply. Too many scams in Thailand this way. 

If i had gotten such an email I would have it printed and taken to the bank to inquire... But alas, no such email was sent to as of yet. 

 

[gamb00ler]

I received the same email at 9:33 Nov. 24